Xiaomi acquires autonomous driving firm as it looks to boost nascent electric vehicle business

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

Xiaomi's electric and autonomous vehicle ambitions will pit it against China's other technology giants in what is becoming an increasingly crowded space

Wang Gang | Visual China Group | Getty Imageshas acquired an autonomous driving start-up, jumping into an extremely competitive area, while trying to diversify its business beyond smartphones.

Xiaomi said Wednesday it had acquired Deepmotion for around $77.37 million to "enhance the technological competitiveness" of its electric vehicle business.and invest $10 billion over the next 10 years. The acquisition could help bring autonomous driving features to the cars Xiaomi eventually produces, a feature being developed by many automakers for next-generation electric vehicles.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines